Comcast to Spin Off Rotten Tomatoes, Fandango, and Cable Networks Into a New Public Company
Comcast is restructuring its portfolio by spinning off a group of NBCUniversal’s cable networks and digital assets into a new independent, publicly traded company. The move, announced Wednesday, includes channels…
Japan’s Kioxia to List with $5 Billion Market Value
Bain-backed Kioxia, a major player in the global chip market, is set to receive listing approval from the Tokyo Stock Exchange on Friday, two unnamed sources revealed. With an indicative…
Ford to Lay Off 4,000 Workers in Europe and Scales Back EV Plans
Ford has announced plans to cut 4,000 jobs across its European operations while scaling back production targets for its Explorer and Capri electric vehicles (EVs). The move affects 14 percent…
Digital Wallets Face Bank-Like Regulations Under New CFPB Rule
The U.S. Consumer Financial Protection Bureau (CFPB) has announced a landmark ruling that will subject digital payment services to bank-like regulations. This new rule targets popular payment wallets and money…
Nvidia Predicts Surging Sales for Next-Gen Blackwell Chips
Nvidia revealed that its next-generation Blackwell chips are expected to surpass earlier sales projections, signaling robust demand from AI developers. Following a quarter where Nvidia’s revenue nearly doubled, CEO Jensen…
Elon Musk’s X Sues Twitch for Alleged Advertising Boycott
Elon Musk’s X has taken legal action against Amazon-owned Twitch, alleging that the livestreaming platform has boycotted advertising on X since November 2022. Twitch is the latest target in X’s…
Nvidia’s Stock Could See $300 Billion Swing After Earnings
Nvidia’s market value could experience a staggering $300 billion shift following its quarterly earnings report, set to release after markets close on Wednesday. According to U.S. options market data analyzed…
Kadokawa Gains 19% After Sony Interest Surfaces
Kadokawa Corporation’s stock surged 19% during early trading in Tokyo on Wednesday, following a Reuters report that Sony is in discussions to acquire the Japanese publishing, anime, and gaming giant.…
Sony Eyes Kadokawa in Strategic Expansion Talks
Sony is in discussions to acquire Kadokawa, the Japanese media company behind the blockbuster video game Elden Ring, according to two sources familiar with the matter. The deal, if finalized,…
Nepal to Fight Crypto Fraud with Public Awareness, Transaction Monitoring
Nepal’s Financial Intelligence Unit (FIU) has raised significant concerns about the increasing use of cryptocurrencies in cyber-related frauds, despite the country’s official ban on trading digital assets. The FIU, a…
Xiaomi Partners with PhonePe for New App Store in India
Xiaomi will transition its Indian app store to fintech company PhonePe’s Indus AppStore starting January 2024. The update will automatically replace Xiaomi’s GetApps store on devices across India, signaling a…
Huawei Opens Pre-Orders for Mate 70 Ahead of Big Event
Huawei Technologies has started accepting pre-orders for its latest Mate 70 smartphone model. The announcement, made on the company’s official WeChat account on Monday, marks a new chapter for the…
Taiwan Seeks EU Economic Partnership to Boost Semiconductor Ties
Taiwan President Lai Ching-te has called for the European Union to sign an economic partnership agreement with the island, highlighting its potential to deepen cooperation in critical sectors such as…
Alibaba Beats Profit Forecast as China Faces Tepid Spending
Chinese e-commerce leader Alibaba delivered better-than-expected profits in its September quarter, driven by gains from equity investments, despite falling short on sales projections. The company’s net income rose 58% year-on-year…
ByteDance’s $300 Billion Valuation Revealed Amid Investor Buyback
TikTok’s parent company, ByteDance, has been valued at approximately $300 billion, sources familiar with the matter revealed. The company recently approached investors with a share buyback offer priced at $180.70…
Samsung Electronics Announces $7.2 Billion Buyback After Stock Slump
Samsung Electronics has announced plans to repurchase shares worth 10 trillion won ($7.17 billion) over the next year following a sharp decline in its stock price. This move, the company’s…
ePlane Secures $14M to Propel India’s Air Taxi Ambitions
ePlane, an Indian startup focused on electric air taxis, has raised a $14 million Series B funding round as it seeks to capitalize on the Indian government’s interest in developing…
AMD Cuts Workforce by 4 Percent as Competition in AI Chip Market Heats Up
AMD is set to reduce its workforce by 4%, translating to approximately 1,000 employees, as part of a strategic move to strengthen its position in the artificial intelligence (AI) chip…
Nvidia and SoftBank Unveil First AI and 5G Telecom Network
Chipmaker Nvidia and SoftBank Corp have launched a pilot for the world’s first telecom network that combines artificial intelligence (AI) and 5G technology. Announced on Wednesday, this collaboration pioneers a…
Tencent Reports 47% Profit Jump as Games and AI Drive Growth
Tencent posted a stronger-than-expected 47% profit surge in the third quarter, driven by gains in gaming, advertising, and cloud services, as announced on Wednesday. The Chinese social media and gaming…